Boat insurance has two main areas of cover. These are property damage and liability. Do you know what kind of insurance you need for your boat, and are you covered for liability? Southern Risk Associates serving Foley, AL is on hand to assist you in reviewing your policies to make sure you have adequate coverage.
Property Damage Liability
Property damage liability is insurance that provides financial cover if you are legally liable (responsible) for the accidental damage of someone else’s property with your boat. Think about your auto insurance. There is likely a section like this in your policy. A boat is no different. It is not always on the water, and there is always the possibility that you might accidentally damage someone else’s boat or water ski while having fun on rivers or lakes.
Bodily Injury Liability
This aspect of liability insurance provides cover for third parties who are harmed due to your boat or watercraft. Even small injuries can rack up extensive medical bills, and bodily injury liability will help to take care of the bills. If there is a lawsuit, then there may be a proviso for legal costs depending on how your policy is set up.
Fuel Spill Liability
This is a lesser-known but no less important type of liability insurance that may cover you for claims against mop-up operations and fines you incur due to the accidental spilling of fuel or oil from your boat that affects the environment.
Have fun the responsible way and contact Southern Risk Associates serving Foley, AL today about boat insurance and making sure you are covered in the event of legal liability!